We’re in the New Year now and it’s a reasonable bet everyone is looking at a pretty depleted bank account balance.
Most of us got paid before Christmas and it’s a great feeling when you’re at the bar getting in your third round of the night for your mates, but right now, the next few weeks are looking pretty bleak.
If we’re hitting a little too close to home, then fear not – because we have an easy savings challenge which will give you an extra £1,456 by the end of the year.
It’s called the 365-Day Money Challenge by Apartment Therapy and only involves putting small chunks of money away every day, which is definitely more doable than committing to big investments every few months.
It basically goes like this: you put £1 away on the first day, £2 on the second, and so on and so on, until you reach the end of the week at £7.
At the beginning of the next week, the cycle starts again and you revert back to £1 – to be fair this seems like quite a bit of faff to be doing every day.
If you can’t be bothered making daily savings, then just put £28 per week into your savings account, or £112 per month.
That way, you’re only saving up in small increments, which won’t feel too much like hard work, but will quickly snowball into a lovely little stash of cash.
The plan isn’t too dissimilar to the 52-Week Challenge, which involves saving £1 on the first week, £2 on the second, £3 on the third, etc.
This sounds reasonable enough until it gets to the end of the year and you’re putting away £50 at a time, when you could really be doing with the extra cash for drinks and presents.
It also only brings in £1,378, which isn’t as much as the 365-Day Challenge and yet somehow, seems less appealing.
There we have it folks, the best way to stay away from the perpetual beans on toast for tea is to get into the 365-Day Challenge.